Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Declines By 83.4%

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totalling 25,300 shares, a drop of 83.4% from the November 30th total of 152,200 shares. Based on an average daily volume of 568,700 shares, the short-interest ratio is presently 0.0 days.

Virtus Convertible & Income Fund Stock Down 0.8 %

Shares of NYSE NCV traded down $0.03 during midday trading on Friday, hitting $3.50. The stock had a trading volume of 315,925 shares, compared to its average volume of 518,997. Virtus Convertible & Income Fund has a fifty-two week low of $3.02 and a fifty-two week high of $3.73. The company’s 50-day simple moving average is $3.55 and its 200 day simple moving average is $3.45.

Virtus Convertible & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a $0.136 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.63 dividend on an annualized basis and a yield of 46.63%.

Institutional Trading of Virtus Convertible & Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MCF Advisors LLC bought a new stake in shares of Virtus Convertible & Income Fund during the 2nd quarter valued at $29,000. International Assets Investment Management LLC boosted its holdings in Virtus Convertible & Income Fund by 250.0% during the third quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock worth $30,000 after buying an additional 6,030 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Virtus Convertible & Income Fund during the third quarter worth about $35,000. Jane Street Group LLC bought a new position in Virtus Convertible & Income Fund during the third quarter worth about $36,000. Finally, PVG Asset Management Corp acquired a new position in shares of Virtus Convertible & Income Fund during the 3rd quarter worth about $45,000.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.